The purchaser of each lot is deemed to purchase with notice and full knowledge of the important notice to bidders, the Common Auction Conditions, where applicable, the special conditions of sale and this addendum.

The purchaser of each lot is deemed to have inspected the property and have verified the accuracy of all information given in the particulars including the extent of the premises to be sold and the floor areas. Additionally, the purchaser is deemed to have read the legal documentation.

The boundary plans in the auction catalogue are for identification only. The correct title plan showing the boundaries of the properties are available for inspection and the purchaser will be deemed to have purchased with full knowledge thereof.

Please note that vendors may require a supplementary amount to be paid by the purchaser to the vendor over and above the purchase price. Please check the special conditions of sale to ascertain whether this applies to the property for which you are bidding.

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017.

Under the Regulations, Acuitus is legally required to immediately undertake customer due diligence checks on the buyer and related parties.

Acuitus will need to receive identification documents that satisfy the Regulations for the bidder, the buyer (if different from the bidder), the beneficial owners with more than 25% of the voting rights or capital and proof of authority if the bidder is acting as an agent.

Acuitus will also need to receive satisfactory identification on the source of the deposit money provided by the bidder/buyer.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

The Common Auction Conditions have been updated as at June 2024.

15-25 High Street, Cheam, London, SM3 8RQ

(a) That in General Condition G22.3 the words “two months” will be amended to “three months”
(b) That in relation to the sum of £10,325.25 and the sum of £31,521.33 (together the “Section 20 Sums”) both of which are held by the managing agents of the Seller and which are in respect of sums received following service of notices on the tenants purported to be sent under section 20 of the Landlord and Tenant Act 1985 in respect of works to the gates and roof of the buildings at the Lot respectively, then:-
a. for the avoidance of doubt the Section 20 Sums do not form part of the service charge and will not be apportioned or dealt with pursuant to General Condition G22 or otherwise under this agreement; and
b. the Section 20 Sums will not be transferred to the Buyer;
c. the Seller will use reasonable endeavours to return the Section 20 Sums to the respective tenants who paid the same to the Seller (or its predecessors) in the period between the date of this agreement and completion.


Additional Disclosure:-

The Seller has become aware that prior to the appointment of the Receivers two sets of notices (the “Section 20 Notices”) were served by the landlord on the tenant’s purporting to be pursuant to Section 20 of the Landlord and Tenant Act 1985 and requesting payment of sums from the tenant’s towards works to repair/renewing the gate and works to the roof of the buildings on the Lot. While the Seller acting by the receivers is aware that the sum of £10,323.25 (towards the Gate) and £31,521.53 (towards the roof) (together the “S20 Sums”) have been collected, these have only just been transferred to the receivers controlled managing agent prior to the auction and therefore none of the works identified in the Section 20 Notice have been carried out. Given that position and the fact that the Receivers were not part of and cannot therefore be confident that the section 20 process has been fully complied with the Seller acting by the Receivers will following exchange and between completion be taking steps to seek to return the S20 Sums to the respective tenant’s that they were received from. The S20 Sums will not, therefore, be paid over to the Buyer (and this will be reflected in the contract with the Seller providing a contractual obligation to return these to the tenants) and the Buyer will then need to undertake its own process in relation to any necessary works or repairs either as identified in the Section 20 Notices or otherwise as part of its ongoing asset management strategy. Copies of the Section 20 Notices and associated emails have been added to the sale pack.